Advantages and differences of investment environment of Vinh Phuc province
- Provincial leader give strongest support to investors
With the motto “Businesses invest in province is the Vinh Phuc’s citizen, business success is also the success of the province”; Provincial leaders is always determination in steering and executive; create the most favourable conditions for investors; timely remove difficulties and problems for enterprises; Flexible application of Vietnam State policy consistent with the practice of province.
- Administrative procedures are implemented open and handled by one stop service mechanism, communicate in English, Japanese,Korean, Chinese and Vietnamese.
Investors contact only with Vinh Phuc Investment Promotion Agency to apply and resolve administrative procedures results for investment with time reduced from one third to half compare to general regulations of Vietnam.
- Convenient geography location and transportation
Vinh Phuc is located among 03 regional planning the Northern key economic regions, the Red River delta region and Hanoi Capital region; Situated in economic corridor of Yunnan (China) – Lao Cai – Ha Noi – Hai Phong (Vienam) and industrial development belt of Vietnam Northern. There is road traffic system, the national railway, running through the trans-Asia road, waterway has 02 major rivers: the Red River and Lo River flow through; adjacent to the international airports of Noi Bai
- The mild climate, good geological structure, not occurring earthquake and flooding
The annual average temperature is 22-230C. The average height of over 40m above sea level. Hard soil is very favourable for industrial development and urban, saving construction costs of foundation works. In Vinh Phuc no occurring flooding, earthquake.
- Being hub for automobile, motorbike, electronic and communication industry in the North of Vietnam
Toyota and Honda Group (Japan), Piaggio (Italy), Daewoo (South Korea) invested and manufactured successfully in automobile and motorbike assembly in Vinh Phuc; A number of large electronic Group of Japan (Canon), South Korea (Samsung), Taiwan and China ( Foxcom, Compal) had invested inVinh Phuc province and surrounding area, it was a great opportunities for supporting industry on mechanic, electric, information and communication sector.
- A specialized agency for compensation and site clearance; Available standard factory for rent;
At the provincial and district level, there is an authorized state agency specializes in site compensating and clearance, create land fund for investor deploying project. In the industrial parks built the available standard factory for rent with the area suitable for small and medium enterprises.
- Abundant of tourist places and resources with numerous famous cultural and historical places;
The Province consists of three ecological areas: delta, midland and mountain. It possesses a high density in forest cover, rivers, lakes and swamps. There are many famous landscapes and hundreds of ranked historical cultural monuments. The type of tourism development in Vinh Phuc is quite diverse: ecology, recreation, sports, adventure, spirituality, …
- A comprehensive and integrated master plan for sustainable development;
Master plan for social economic development was completed. Integrated and closed construction plan. (Regional plan, detailed sections plan) especially urban general planning of Vinh Phuc metropolitan by 2030, vision to 2050 was designed by Nikken Sekkei Engineering Civil Ltd, (Japan) approval by Prime Minister of Vietnam from 2010.
- Social – economic infrastructure has been synchronized and gradually modernized both urban and rural areas.
Vinh Phuc was established the internal and external transportation system; drinking water manufacturing and producing; power distribution; sewage and waste water treatment; telecommunications systems; dike system of irrigation works, rural roads, … will continue to be invested in sync and gradual modernization
- Young population structure and abundant labour forces
Golden population structure, low dependency ratio, the percentage of workers in the total population accounted for 62%; annual skilled workers rate reached over 50% to meet the labour demand for enterprises.
- Benefited from infrastructural projects sponsored by World Bank (WB), of Asian Development Bank (ADB) and Japan
The project of flood control and water resource management of Vinh Phuc province; Category II Urban Development Project – Green city of Vinh Yen; the components projects: infrastructure (construction of roads, water production, waste water treatment and improving grid city of Vinh Yen, Phuc Yen town), software for training investment promotion skills and business support currently being implemented on schedule.